Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Says its appeal against dismissal of lawsuit against various entities was accepted yesterday by the Supreme Court of Israel. Lawsuit was filed with the District Court in Tel-Aviv by Plaza and Elbit Imaging Ltd in October 2020 against certain officers of both companies, certain heirs of their former controlling shareholder Motti Zisser, deceased, and other parties involved in a 2011 sale of US real estate properties. Brokerage fees for this transaction were allegedly illegally transferred to private companies controlled by Zisser. District Court approved defendant Philip Meyer's application for dismissal of the lawsuit against him. Plaza and Elbit appealed in November 2021. Both companies will continue handling legal proceedings in the District Court while each party maintains all claims in the main proceeding.
Current stock price: 20.00 pence
12-month change: down from 6,500.00p on July 26, 2022
By Emma Curzon, Alliance News reporter
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Plaza (PLAZ)